Trump tariffs are a wealth killer

Trucks lined up at the US-Mexico border crossing at Laredo, Texas. (Image: US Customs and Border Protection)

Sat, 01 Feb 2025

By Andy Kessler“We will tariff and tax foreign countries to enrich our citizens,” US President Donald Trump declared in his inauguration speech. Adam Smith, the Scottish economist and philosopher who believed that economies thrive with competition, capitalism, and a free market, is turning in his grave. Tariffs destroy wealth. No matter Trump said he may slap 25% tariffs on Canada and Mexico and 10% on China.An executive memorandum demanded his administration study trade deficits and tariffs. Here’s a study guide:In 1815,...

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